ICIG to Acquire Pharmaceutical Intermediates Business From Genzyme
International Chemical Investors Group (ICIG) recently announced it has entered into a purchase agreement under which an affiliate of ICIG will acquire the pharmaceutical intermediates business from Genzyme Corporation. Under the terms of the agreement, ICIG will purchase substantially all of the pharmaceutical intermediates business, excluding the drug delivery technologies portion of the business.
ICIG has agreed to offer employment to the unit’s approximately 120 employees upon closing, and plans to maintain operations at its primary location, a manufacturing facility in
As part of the agreement, ICIG will enter into a 5-year supply contract to provide Genzyme with materials needed for the production of eliglustat tartrate, an investigational treatment for Gaucher disease Type 1 that is currently in Phase III clinical trials. ICIG will also supply materials needed for the manufacture of other treatments in earlier stages of development, including neo-GAA, currently in preclinical development as a potential next-generation Pompe disease therapy.
Genzyme Pharmaceuticals develops and manufactures chemically synthesized pharmaceutical materials and technologies for the global pharmaceutical industry and focuses on lipids, peptides, carbohydrates, oligonucleotides, and custom small molecules.
ICIG is a privately owned industrial holding company focusing on mid-sized chemicals and pharmaceutical businesses. Since inception in 2004, ICIG has acquired 15 businesses, all of which have origins in major global chemical or pharmaceutical corporations and are independently managed. ICIG companies currently employ more than 3,000 people and operate 15 manufacturing facilities in Europe and the
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